Legit question.
I assume no discount?
Printable View
Anyway.....
any ideas on how long it's going to take them to find 'a suitable rig' for Kakapo? All the bad/disgusting news going around at the moment I think we all need some good news!:t_up:
Thanks digger.
http://www.stuff.co.nz/business/opin...Kiwi-ingenuity
Good questions posed by Rod Oram :
"Why didn't leaders and experts in the mining industry, investors, bankers, analysts and insurers ring alarm bells when it was obvious the company was floundering? Why didn't regulators and politicians? Why didn't the miners' own community? Why was the Pike River company a dreadful, widely known secret nobody wished to share until it killed 29 men?"
"Yet the mine was promoted by New Zealand Oil & Gas, which had no experience in mining. It floated Pike River Coal, a one-mine start-up, on the NZX in 2007 with a board with no experience of underground coal mining. Wider than that, though, investors, advisers, regulators and workers all ended up failing the most basic tests of responsibility."
The posting above is pertinent to any assessment of NZOG as an investment proposition - the recklessness of NZOG in pushing ahead with the development of PRC, without the right expertise at Board or management levels, gives an unique insight into the decision and investment making process at NZOG.
Unfortunately I think the problem in New Zealand is a bit more expansive than demonstrated NZOG/PRC
1) Look at the shambles we have (had?) in our Finance Industry.
2) Look at what we did to our KiwiFruit boys....allowing contaminated pollen to be imported
Similar incompetency's in MAF as shown with the Labour department.
Its just a matter of time before there is a bigger disaster in our primary industries.
http://www.biosecurity.govt.nz/files...eview-2012.pdf
3) We are looking to sell our power production ability...but maybe our Maori friends and/or Tiwai point will scupper this.
Have we not learnt anything from our prior attempts with asset sales ?
4) A Prime Minister who supports a member who seems to have lost his memory.
I really wonder where we are taking New Zealand. Maybe the brain drain over the last 20 years or so is having an impact.
The alarm bells certainly rang for some! Many workers and some staff left PRC because of their concerns. I quit my holdings at a profit when I became concerned that the media releases bore little reality to what was happening on the ground or were very late in being released.
Being on the Coast and able to speak with PRC workers and others experienced in the industry left me in no doubt that PRC was in serious trouble. Other miners would have left but were economic hostages or lacked the experience to appreciate the dangers.
I did post my concerns on this site but the warnings along with "Balances" were not well received. You can lead a horse to water etc.